The Ores and Metals Exports in Saudi Arabia have shown significant growth over the past decade, starting from 0.4 in 2013 to reaching 1.62 in 2023. The early years saw rapid increases, notably a 191.31% year-on-year rise from 2013 to 2014. The growth rate then began to decelerate, with occasional dips like in 2018 (-13.64%) and 2021 (-14.38%). However, there was a notable surge in 2020 with a 43.87% increase. The Compound Annual Growth Rate (CAGR) from 2013 to 2018 was 24.85%, reducing to 10.7% from 2018 to 2019, further slowing to 2.06% by 2021. As of 2023, the value stood at 1.62, with a CAGR of 1.44% over the last two years, and 5.79% over the last five years.
Looking ahead, from 2024 onwards, the forecast indicates a steady but slower growth, with a projected 5-year CAGR of 1.08% by 2028. Future trends to watch for include the impact of global demand fluctuations, advancements in mining technology, and policies aimed at diversifying Saudi Arabia’s economy.